Revenue: As of FY2026, the actual value is USD 390.7 M, beating the estimate of USD 389.3 M.EPS: As of FY2026, the actual value is USD -1.78, beating the estimate of USD -1.9086.<h4>Segment Revenue</h4>Total revenue for Ambarella, Inc. was $390.7 million for the fiscal year ended January 31, 2026, marking a 37.2% increase compared to fiscal year 2025 . This growth was primarily driven by higher product unit shipments and an increased percentage of sales from higher average selling price AI inference processors, partially offset by lower nonrecurring engineering (NRE) project service revenue . Sales to customers in Asia accounted for approximately 88% of total revenue in fiscal year 2026, up from 85% in fiscal year 2025 and 79% in fiscal year 2024 . WT Microelectronics Co., Ltd. accounted for approximately 70% of total revenue in fiscal year 2026 . The top 10 end customers, directly or indirectly, accounted for approximately 67% of total revenue in fiscal year 2026, with Arashi Vision Inc. dba Insta360 being the largest end customer .<h4>Operational Metrics</h4><ul><li>Gross Profit: Gross profit for fiscal year 2026 was $231.266 million, compared to $172.330 million in fiscal year 2025 and $136.817 million in fiscal year 2024 . Gross margin decreased to 59.2% in fiscal year 2026 from 60.5% in fiscal year 2025 and 60.4% in fiscal year 2024 . This decrease was primarily due to higher manufacturing costs for advanced process technologies and lower sales of previously reserved inventory, partially offset by a higher percentage of sales from higher average selling price AI inference processors .</li><li>Operating Expenses: Total operating expenses were $313.793 million in fiscal year 2026, compared to $298.925 million in fiscal year 2025 and $291.377 million in fiscal year 2024 . As a percentage of revenue, total operating expenses decreased to 80% in fiscal year 2026 from 104% in fiscal year 2025 and 129% in fiscal year 2024 .<ul><li>Research and Development (R&amp;D): R&amp;D expense increased to $238.519 million in fiscal year 2026 from $226.109 million in fiscal year 2025 and $215.052 million in fiscal year 2024 . This increase was primarily due to $4.8 million in additional engineering-related costs, $4.4 million in higher personnel costs, and $3.2 million in facility-related costs from headquarters relocation . As a percentage of revenue, R&amp;D decreased to 61% in fiscal year 2026 from 79% in fiscal year 2025 and 95% in fiscal year 2024 .</li><li>Selling, General and Administrative (SG&amp;A): SG&amp;A expense was $75.274 million in fiscal year 2026, up from $72.816 million in fiscal year 2025, and down from $76.325 million in fiscal year 2024 . The increase in fiscal year 2026 was primarily due to $1.7 million in higher personnel costs and $0.7 million in higher marketing and travel expenses . As a percentage of revenue, SG&amp;A decreased to 19% in fiscal year 2026 from 25% in fiscal year 2025 and 34% in fiscal year 2024 .</li></ul></li><li>Loss from Operations: Loss from operations was - $82.527 million in fiscal year 2026, an improvement from - $126.595 million in fiscal year 2025 and - $154.560 million in fiscal year 2024 . This reduction in operating losses was mainly due to higher revenue and gross profit, partially offset by increased operating expenses . As a percentage of revenue, loss from operations was -21% in fiscal year 2026, -44% in fiscal year 2025, and -69% in fiscal year 2024 .</li><li>Net Loss: Net loss for fiscal year 2026 was - $75.865 million, compared to - $117.126 million in fiscal year 2025 and - $169.417 million in fiscal year 2024 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by Operating Activities: Net cash provided by operating activities increased to $73.519 million in fiscal year 2026, up from $33.836 million in fiscal year 2025 and $19.024 million in fiscal year 2024 . The increase was primarily due to improved operating results and higher cash inflows from changes in working capital .</li><li>Net Cash Provided by (Used in) Investing Activities: Net cash used in investing activities was - $30.494 million in fiscal year 2026, compared to - $40.526 million in fiscal year 2025, and net cash provided of $7.842 million in fiscal year 2024 . The decrease in cash used in fiscal year 2026 was primarily due to $15.2 million of additional net cash received from debt security investments, partially offset by $5.1 million higher payments for capital assets and software licenses .</li><li>Net Cash Provided by Financing Activities: Net cash provided by financing activities was $3.807 million in fiscal year 2026, compared to $6.398 million in fiscal year 2025 and $4.506 million in fiscal year 2024 . The decrease in fiscal year 2026 was primarily due to - $2.6 million less cash from stock activities and - $1.0 million from stock repurchases, partially offset by $1.0 million higher principal payments for long-term software license agreements .</li></ul><h4>Unique Metrics</h4><ul><li>Cash, Cash Equivalents, and Marketable Debt Securities: As of January 31, 2026, Ambarella, Inc. had $312.6 million in cash, cash equivalents, and marketable debt securities, an increase from $250.3 million as of January 31, 2025 .</li><li>Stock Repurchase Program: As of January 31, 2026, approximately $48.0 million remained available for repurchases under the current program through June 30, 2026 . In the first quarter of fiscal year 2026, Ambarella, Inc. repurchased 24,152 ordinary shares for approximately $1.0 million .</li><li>Contractual Obligations: As of January 31, 2026, total outstanding contractual obligations were $125.713 million, including $27.841 million for technology licenses, $80.436 million for manufacturing purchase commitments, $5.041 million for capital commitments, and $12.395 million for service commitments .</li></ul><h4>Outlook / Guidance</h4>Ambarella, Inc. anticipates future revenue growth will largely depend on its expansion within camera markets using AI technology, especially in IoT and emerging markets like AI-enabled security cameras and autonomous driving applications . The company expects increased research and development expenditures to enhance product features, expand offerings, and target new markets . Ambarella, Inc. believes its current cash balances will adequately cover anticipated cash requirements for at least the next 12 months .

Ambarella | 10-K: FY2026 Revenue Beats Estimate at USD 390.7 M